Best Places In The World To Retire

Panamá, as a very well known international business center, offers all kinds of interesting business opportunities. Therefore,  many major corporations, and some banks, large law offices, among others, offers banking transactions in 

U.S. dollars, as well as (European) Euros.

 

Even though the official currency of Panamá is called the "Balboa," the normal currency around the country is the U.S....

Panamá, as a very well known international business center, offers all kinds of interesting business opportunities. Therefore,  many major corporations, and some banks, large law offices, among others, offers banking transactions in 

U.S. dollars, as well as (European) Euros.

 

Even though the official currency of Panamá is called the "Balboa," the normal currency around the country is the U.S. dollar, which has the same value.  You can get Panamanian coins as change, or for souvenirs.   If you want to transfer money, or purchase and international money order, no "Balboas" are mentioned, just US dollars. 

 

The economy in Panamá has been very stable since Panamá is a republic, and the  economic growth continues at a very high speed every year, offering multiple opportunities to those who want to invest, or open businesses here.  As a matter of fact, a large industrial area, called "Panamá Pacífico" hosts over 140 multinationals that have decided to transfer their headquarters offices to Panamá because of the  enormous benefits and stability in the country.

 

(The logo for the pharmaceutical company, Pfizer Inc. which has a branch in Panama, pictured.)

 

For first time purchasers, the question "How much of your stuff should you move with to Nicaragua?" can be overwhelming. Unless you have been to Nicaragua several times and traveled through its many markets and outlets you may not know just how much is available here. From hand crafted woods and furnishings to intricate woven hangers and hammocks, finding quality and eye catching decor is easy and fun.

 

Three years ago I had to ask myself the very same...

For first time purchasers, the question "How much of your stuff should you move with to Nicaragua?" can be overwhelming. Unless you have been to Nicaragua several times and traveled through its many markets and outlets you may not know just how much is available here. From hand crafted woods and furnishings to intricate woven hangers and hammocks, finding quality and eye catching decor is easy and fun.

 

Three years ago I had to ask myself the very same question. And of course, knowledge and reasoning always prevails over assumptions. While you won't find an IKEA or Home Depot here (yet) do not assume you need to bring everything. Managua and Leon both boast of fine decor and hardware items necessary to everyday comfort.  But what is really astonishing is the endless amounts of artisans, hand crafted offerings, textiles and fabrics. And all at wonderful price points.

 

Keep in mind that the change in climate will effect some materials quite differently then in a four season climate. The warm salty air and heat of the sun can have adverse effects on non native woods and textiles. I ended up bringing my personal items and some favorite tools. The rest was easy to acquire here and often cost less than what I would have paid to ship them in.

You can rent a home in Belize for as little as US $150 per month, if you rent a home that’s amongst the villagers or in the town. In this case, you would live among the people and rent a Belizean home. You can get it very inexpensively, but you won’t be able to find this on the Internet, though.
 
Before renting you would have to come to Belize, do your homework, search, and look at the areas.  They have signs outside.
 
We also have hostels.  You...

You can rent a home in Belize for as little as US $150 per month, if you rent a home that’s amongst the villagers or in the town. In this case, you would live among the people and rent a Belizean home. You can get it very inexpensively, but you won’t be able to find this on the Internet, though.
 
Before renting you would have to come to Belize, do your homework, search, and look at the areas.  They have signs outside.
 
We also have hostels.  You can just rent a room in a house that is very, very inexpensive, perhaps as low as BZ $200 (US $100) per month. I’ve also seen rentals for US $1,500 per month. Usually this would be for a home, usually near the water or on a beach, perhaps 3-bedrooms.  It may be a little bit more on the islands or in the more touristy areas. There is a big range of prices.
 
For US $500 in the Corozal area, you would be able to get a nice one-bedroom, one-bath apartment, condo, or a smaller home.  Sometimes, people build their houses with a space down below to rent.  This could be a 2-bedroom, 1-bath or a 1-bath, 1-bedrooom rental within 200 feet of the water. You can also find a very nice condo, with 1-bedroom and 1-bath. You can find some homes but you have to really go and search for those for about US $500 per month. 
 
A 3-bedroom, 2-bath, 1,500 square foot home in Corozal would probably be about US $1,000 per month, either furnished or unfurnished, utilities extra.

 

(Seaside home in Corozal, Belize available for long term rental, pictured. )

You need to report all of your foreign bank accounts each year if the total balance is over US $10,000 or the foreign equivalent.  So if you have a checking and a savings account overseas and you move $5,001 from the checking to the savings you now have $10,002 in all your combined off shore accounts so they need to be reported.  It’s a hassle, but it’s not difficult to report.

 

(Swiss National Bank, pictured.)

 

You need to report all of your foreign bank accounts each year if the total balance is over US $10,000 or the foreign equivalent.  So if you have a checking and a savings account overseas and you move $5,001 from the checking to the savings you now have $10,002 in all your combined off shore accounts so they need to be reported.  It’s a hassle, but it’s not difficult to report.

 

(Swiss National Bank, pictured.)